In many cases, the end of the year gives you time to step back and take stock of the last 12 months. This is when many of us take a hard look at what worked and what did not, complete performance reviews, and formulate plans for the coming year. For me, it is all of those things plus a time when I u...

LONDON, UNITED KINGDOM -- (Marketwire) -- 02/06/13 -- More people looking for balance transfer credit card deals would prefer shorter term zero interest offers to longer term deals with higher fees, according to new research for Nationwide Building Society(1).

One in five (20 per cent) credit card holders who would consider transferring their balance would be more likely to opt for a shorter-term 0 per cent interest deal with a lower balance transfer fee (around 1 per cent) on their new card. This compares to 17 per cent who would choose a longer-term 0 per cent interest deal with a higher balance transfer fee (typically around 3 per cent).

Yet almost a third, 32 per cent, said they would be influenced by other factors, not the balance transfer fee or the term of the deal.

Credit card holders can opt to move their balances as a means of managing debt already built up, reducing interest payments over a specified period and saving money in the process. By minimising the fee on balance transfer arrangements, credit card holders could save substantial amounts of money.

Anyone now opening a Nationwide Credit Card or Select2 Credit Card online via the Nationwide website will benefit from a 50 per cent discount on the balance transfer fee, reducing it to 1.55 per cent(3) for the introductory offer of 20 months at 0 per cent interest on balances transferred within 3 months(i).

So, on a balance transfer of GBP 3,000 and with 0% interest for 20 months, new Nationwide credit card holders would pay a fee of GBP 46.50, compared with GBP 90 for deals with a fee of 3 per cent.

Paul Carvell, Nationwide's head of credit cards, said: "More and more credit card holders are opting for a smaller fee over a longer term because it can save a considerable sum, but they are evidently also looking beyond the cost of fees or length of the zero interest term for a better all round deal.

"Nationwide offers the best of both worlds, with a lengthy, 20 month zero interest offer but with a reduced fee of 1.55 per cent.

"Other factors that card holders may consider when looking to transfer credit card balances to a new card include cashback offers, rewards such as commission free foreign transactions or shopping benefits, loyalty points and discounts and excellent customer service."

Notes to Editors:

Representative example - Nationwide Credit Card

15.9% APR representative (variable). Based on an assumed credit limit of GBP 1,200 and a purchase rate of 15.9% p.a. (variable).

Representative example - Select Credit Card

12.9% APR representative (variable). Based on an assumed credit limit of GBP 1,200 and a purchase rate of 12.9% p.a. (variable).

(1 ) All figures, unless otherwise stated, are from YouGov plc. The total sample size was 2,222 adults, of which 1,194 have a credit card and would consider transferring their credit card balance. Fieldwork was undertaken between 19 and 21 December 2012. The survey was carried out online. These figures have been weighted and are representative of all UK adults (aged 18+).

(2) The Select Credit Card is available to any members who use their Nationwide FlexAccount as their main current account or hold Nationwide's FlexDirect current account.

To qualify as a main FlexAccount holder, you have to hold a FlexAccount with a Visa debit card (not a cash card+) and:

-- Have paid in GBP 750 or more each month (excluding internal transfers)
for the past three months, or:
-- Agree to complete an Account Transfer from an account (non Nationwide)
using our Account Transfer Service or have done so in the past four
months.

(3) Offer may be withdrawn at any time.

(i) Balance transfers at 0% must be made within three months from account opening and are subject to a fee of 1.55%. Balance transfers made three months after account opening are subject to a fee of 3.1% (minimum GBP 5). If you already hold a Nationwide credit card or have closed one in the last 12 months you will not be eligible for the introductory offers (including 50% off balance transfer fees).

Customers can manage their finances in branch, on the telephone, internet and post. The Society has around 15,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.

Nationwide credit cards are available to those aged 18+ and are subject to circumstances.

"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javi...

SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
For 20 years, HPM Networks has been integrating technology solutions that solve co...

The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016.
Security is a key component and b...

Learn how to solve the problem of keeping files in sync between multiple Docker containers.
In his session at 16th Cloud Expo, Aaron Brongersma, Senior Infrastructure Engineer at Modulus, discussed using rsync, GlusterFS, EBS and Bit Torrent Sync. He broke down the tools that are need...

Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organiza...

Public Cloud IaaS started its life in the developer and startup communities and has grown rapidly to a $20B+ industry, but it still pales in comparison to how much is spent worldwide on IT: $3.6 trillion. In fact, there are 8.6 million data centers worldwide, the reality is many small...